Read GDP statistics

Comments on Steven Kates “Read the data: it was a recession”, 14/09/2009, http://www.theaustralian.news.com.au/story/0,25197,26067805-7583,00.html

It would be interesting to see how much government technically propped up the GDP figures by its own direct spendings and the effects of its cash handouts on consumption spendings (not really income producing, or maybe a little in retailing earnings).

Some reports were saying the government spent $160,000 to save one job - a pretty hefty price for jobs just to make the government look good and sound good by saying that it has been doing whatever it could/can to save jobs.

While there needs to be consistency in GDP statistics, the ABS would do a better service in explaining better how likely the Australian economy was in a technical recession, given the differences in the three GDP measures used in the average headline GDP figure.

As Steven Kates demonstrates, the economy was in recession from the other two measures. The ABS has been silent on this and that is not the best the nation’s statistical agency could offer to the public.